Finance Act 2003
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Amendment of Schedule 1 to Principal Act. |
143.—(1) Schedule 1 to the Principal Act is amended— | |
(a) in the Heading “BILL OF EXCHANGE or PROMISSORY NOTE” by substituting “€0.15” for “€0.08” in both places where it occurs, | ||
(b) in the Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities” by substituting “the amount so calculated shall, if less than €1, be rounded up to €1 and, if more than €1, be rounded down to the nearest €” for “the amount so calculated shall be rounded down to the nearest €”, | ||
(c) by substituting the paragraphs set out in Part 1 of Schedule 5 for paragraphs (7) to (14) of the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance”, and | ||
(d) by substituting the subparagraph set out in Part 2 of Schedule 5 for subparagraph (b) of paragraph (3) of the Heading “LEASE”. | ||
(2) Subsection (4)(c) does not apply to paragraphs (c) and (d) of subsection (1) as respects any instrument executed before 1 March 2003, where— | ||
(a) the effect of the application of subsection (4)(c) would be to increase the duty otherwise chargeable on the instrument, and | ||
(b) the instrument contains a statement, in such form as the Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into prior to 4 December 2002. | ||
(3) The furnishing of an incorrect certificate for the purposes of subsection (2) shall be deemed to constitute the delivery of an incorrect statement for the purposes of section 1078 of the Taxes Consolidation Act 1997 . | ||
(4) (a) Subsection (1) (a) applies and has effect with respect to bills of exchange (other than cheques) and promissory notes drawn on or after 1 January 2003 and with respect to cheques drawn on or after 5 December 2002, | ||
(b) subsections (1) (b) and (3) apply and have effect as respects instruments executed on or after 6 February 2003, and | ||
(c) subject to subsection (2), paragraphs (c) and (d) of subsection (1) apply and have effect as respects instruments executed on or after 4 December 2002. |